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Tractor Loan/Finance/Refinance

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L&T FINANCE

Introduction

L&T Financial Services has long been associated with the Rural Finance sector, supporting entrepreneurship and livelihoods. With the aim of providing easy finance for tractor and agricultural equipment, every customer is assured of the best deals. We also believe that flexible loan terms could help customers adjust their payment cycles to match crop patterns. So when it comes to reaping more, our customers will surely benefit.

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FEATURES & BENEFITS OF TRACTOR FINANCE

  • Financing on tractors across manufacturers
  • Loan tenure of upto 6 years available
  • Customised loans for customers with different size of land holdings
  • Finance for used tractors*
  • Attractive interest rate @ 10.75 % *
  • Technology-driven transparent processes
  • Customised repayment option based on harvesting patterns
  • Attractive schemes to suit your needs
  • Faster sanction and disbursement of loan
  • Multiple modes of repayment
  • Simple documentation
  • Competitive processing charges
  • Strong presence in semi-urban and rural India

*Terms & Conditions Apply. Credit at the sole discretion of the company.

ELIGIBILITY FOR TRACTOR FINANCE

  • Age requirement: 18 years - 65 years.
  • Income requirement: Articulated with the size of landholdings and per acre yield.
  • Any other requirements: KYC compliance.

INTEREST RATE

  • Interest Rate: 10.75%

DOCUMENTS REQUIRED FOR TRACTOR FINANCE

  • Income Proof: As per submissions made at the time of filing returns
  • Bank Statements: Last 6 months
  • Other Documents: Agricultural land document, NACH/ECS Mandate, PDCs, etc
  • ID Proof: Aadhaar /PAN card
  • Age Proof: Passport / Voter's ID card / Driving License / PAN card / Aadhaar card
  • Address Proof: Passport / Latest telephone bill (landline) / Latest electricity bill / Latest bank account statement

Popular Tractor

John deere 5050 D
HP

50

Cylinder

3

Lifting Capacity

1600 kg

Mahindra 575 Di Xp Plus
HP

46.9

Cylinder

4

Lifting Capacity

1500 Kg

Sonalika DI 60 Sikander DLX TP
HP

60

Cylinder

4

Lifting Capacity

2200 Kg

New holland 3630 TX Super Plus+
HP

49.5

Cylinder

3

Lifting Capacity

1700/2000 Kg

View All Popular Tractor

Frequently Asked Questions About Tractor Loan/Finance/Refinance

A tractor loan is a type of financing provided by banks or financial institutions to help farmers and buyers purchase a tractor. It allows you to pay the cost in easy installments instead of a lump sum.

Tractor Loan interest rate starts from 9.00% p.a and goes up to 20.00% p.a.

Some commonly required Documents for a new tractor loan are address proof, age proof, identity proof, ownership proof, etc and required documents for a tractor loan vary from bank/FI to bank/FI.

For tractor finance credit score of more than 680 is required but in some cases applicant credit score as low as 520 is also able to get a tractor loan.

Yes, you can pay the tractor finance through EMIs on a monthly, quarterly, and half-yearly basis.

No, you don't have to mortgage land to get a tractor loan.

There is no fixed minimum-maximum amount for tractor loan. Tractor loan amounts can be customized to suit your individual needs.

The maximum loan amount that you can get is 90% of the total tractor price.

Best banks for tractor finance are SBI Bank, HDFC Bank, Kotak Mahindra Bank, Central Bank of India, Axis Bank, bank of Baroda, IndusInd Bank, ICICI Bank, and more.

Tractor loan tenure varies from 12 months to 84 months.

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